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Research Report

QR Codes: Unlocking Instant Payments 

Instant payments are transforming the financial landscape—but their success depends on intuitive, secure, and interoperable ways to initiate transactions. QR codes are not just links or proprietary tools. They are standardized, dynamically generated codes that securely connect consumers, merchants, and financial institutions across payment networks like FedNow and RTP. This Cornerstone Advisors report, commissioned by Matera, redefines payment QR codes and reveals how QR codes can bridge the gap between existing infrastructure and consumer behavior, accelerate instant payment adoption, and unlock new efficiency for the entire ecosystem. 

What You'll Learn in This Report

  • Ways QR code payments can streamline bill pay, ecommerce, and in-store retail transactions—reducing friction for consumers while cutting costs and improving cash flow for businesses 
  • Strategies for U.S. financial institutions to draw on standardization and consumer familiarity to replicate the success of Brazil’s Pix network, which processes over 6 billion instant payments each month 
  • How the Accredited Standards Committee X9A4 is developing the first U.S. QR code payment standard—ensuring interoperability, cryptographic security, and seamless operation across banks, billers, and merchants 

Report Stats At a Glance

36 billion

 

instant payments in Brazil begin with a QR code scan each year, a figure on par with the roughly 40 billion ACH transactions that occur annually in the United States.

55%

 

of invoiced sales in the United States are paid after their due date, with an average delay of 43 days.

94%

 

growth in person-to-business (P2B) Pix payments from 2023 to 2024.

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Solutions from Cornerstone Advisors

Cornerstone Advisors - Core Systems - Conversion and Implementation

Digital

We help you drive measurable value from your digital investments. Our expert team partners with you to deliver end-to-end support across your key digital initiatives—from strategy to execution. Whether you're modernizing legacy platforms, optimizing digital contracts or scaling new technologies, we ensure every step is aligned to your business objectives. With decades of experience and deep industry insights, we help you make smarter digital decisions and turn your technology partnerships into a true competitive advantage.

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About Cornerstone Advisors

For over 20 years, Cornerstone Advisors has delivered gritty insights, bold strategies and data-driven solutions to build smarter banks, credit unions and fintechs. From technology system selection and implementation to contract negotiations, vendor management, performance improvement programs, strategic planning, merger integration and enterprise program management, Cornerstone combines its expertise with proprietary data and research to help financial institutions thrive in today’s challenging environment. For more information, visit www.crnrstone.com, connect with us on LinkedIn and Youtube, and subscribe to GonzoBanker® for our opinionated take on all things banking.